Live – M.Carney’s speech at the February Inflation Report

The Bank of England will release later today its February Inflation Report, with Governor Mark Carney scheduled to speak before the Treasury Select Committee at 10h GMT along with MPC members Andrew Haldane, Ian McCafferty and Gertjan Vlieghe.

Key notes

UK inflation figures have extended the up trend in January, showing consumer prices tracked by the CPI rising at an annualized 1.8%, up from December’s 1.6% gain.

Market expectations are tilted towards a dovish tone from the BoE today, in line with the recent Inflation Report published a couple of weeks ago. Furthermore, last week’s disappointing results from UK indicators seem to leave to room for surprises today.

It is worth recalling as well that Governor M.Carney said earlier in the month that the inflation overshoot has been ‘entirely’ due to GBP weakness, while it sees the CPI at 2.75% in Q2 2018.